This chart shows the crossover of oil vs natural gas gains for the 2017 year - coinciding with Trump's announcement to drastically increase production on 24/5.
Next week will be interesting to watch for Natural Gas - if this weeks gains are held and built on a long awaited energy bull trend will be set up.
Some are calling this week's run a bull trap - time will tell.
IMO next week we may see a quick retrace back to 3.35 then the bulls will grab this and run.
I'm calling a break of recent highs and for Natural Gas to test the 4.5 mark before the end of July.
Next week will be interesting to watch for Natural Gas - if this weeks gains are held and built on a long awaited energy bull trend will be set up.
Some are calling this week's run a bull trap - time will tell.
IMO next week we may see a quick retrace back to 3.35 then the bulls will grab this and run.
I'm calling a break of recent highs and for Natural Gas to test the 4.5 mark before the end of July.